INSUBCONTINENT EXCLUSIVE:
Authors: Jordan
The Sensex and Nifty edged
higher on Monday, tracking gains in Asian markets
The Sensex rose over 100 points to regain 35,000 level while Nifty also reclaimed the 10,650 mark
ICICI Bank rose nearly 1 per cent ahead of its earnings announcement
Geo-political risks, coupled with the ongoing quarterly results season and macro-economic data points, are expected to influence the
trajectory of key Indian equity indices next week, analysts said
According to market observers, even the upcoming state assembly election in Karnataka, along with crude oil price fluctuations as well as
the direction of foreign fund flows and the rupee's movement against the US dollar will impact investors' risk-taking appetite"Two important
events will drive the market sentiments during the next two weeks
First, is the outcome of the US-Iran nuclear deal and the other is the Karnataka elections, especially BJP's performance," said Devendra
Nevgi, founder and principal partner, Delta Global Partners.Asian shares crept higher on Monday after a tame reading on US wages lowered the
risk of faster rate hikes by the Federal Reserve, although China-US trade tensions and a looming deadline for the Iranian nuclear deal
Oil prices hit their highest in more than three years as global supplies remained tight and the market awaited news from Washington on
possible new US sanctions against Iran
President Donald Trump has set a May 12 deadline for Europeans to "fix" the deal with Iran over its nuclear program or he would refuse to
extend US sanctions relief for the oil-producing Islamic Republic.Brent crude futures added 31 cents to $75.18 a barrel, while U.S
crude climbed 44 cents to $70.16 to finally crack the $70 barrier.MSCI's broadest index of Asia-Pacific shares outside Japan put on 0.3
percent, while Chinese blue chips rose 0.7 percent.Friday's US jobs report showed unemployment dropping to a new cycle low of 3.9 per cent
yet wages remained benign, suggesting the Federal Reserve would keep raising rates but at a gradual pace
That outlook cheered Wall Street where the Dow ended Friday up 1.39 per cent, while the SP 500 rose 1.28 per cent and the Nasdaq 1.71 per
